Hidroelectrica reached almost 1.4 million points of consumption in its electricity supply portfolio at mid-year, 83% above the level recorded in June 2025. The commercial expansion is also changing the company’s relationship with the market: electricity purchases increased by 46%, to 983 GWh, while the Group’s net profit rose by 62%, to 2.57 billion lei.

Data from Hidroelectrica’s report for the first half of 2026 show a company rapidly expanding its electricity supply business alongside its own generation and purchasing increasingly large volumes of electricity from the market to support its commercial portfolio.

As of 30 June 2026, Hidroelectrica had 1.39 million points of consumption, 83% more than at mid-year 2025. In the non-household segment, the portfolio reached 81,853 points of consumption, up 116%.

The expansion is also visible in delivered volumes. The amount of electricity sold through the supply business increased by 31%, to 4,274 GWh, while supply revenues rose by 59%, to approximately 2.23 billion lei, according to the half-year report.

The growing portfolio is gradually changing the commercial profile of Romania’s largest electricity producer. Hidroelectrica no longer operates solely through the traditional relationship between its own generation and the sale of that electricity on wholesale markets or to end customers. Supplying electricity on an increasingly large scale also means managing a permanent gap between generated electricity, contracted volumes and the amount that needs to be purchased from the market.

Electricity purchases increased by 46%

In the first half of the year, Hidroelectrica purchased 983 GWh of electricity from the market, 46% more than in H1 2025.

Purchases are therefore approaching 1 TWh in a single half-year and are becoming an increasingly relevant indicator of the company’s commercial model. Growth in the supply business means Hidroelectrica must meet its obligations to customers even when its own generation does not match the consumption profile or size of its portfolio.

In its first-quarter report, the company had already described the shift as a “repositioning towards a hybrid model, with stronger commercial anchoring and an expanded customer base”. In the same document, Hidroelectrica said it actively manages price and volume risks and dynamically calibrates its generation-purchase mix. The mid-year data give further substance to that direction. The supply portfolio continues to expand, delivered volumes are higher and market purchases have increased as well.

Generation increased by 17%, with the growth coming from the first quarter

Hidroelectrica’s net electricity generation reached 7,070 GWh in H1 2026, up 17% compared with the same period of 2025.

The half-year report shows, however, that the favourable generation trend was concentrated mainly in the first quarter. In Q2 2026, net generation stood at 3,462 GWh, compared with 3,414 GWh in Q2 2025, indicating a much smaller difference than the one recorded for the first half as a whole.

For a supplier with almost 1.4 million points of consumption, the gap between generation trends and portfolio growth is becoming commercially significant. The larger the customer base, the more important the ability to combine own generation with market purchases becomes in managing electricity volumes.

Net profit of 2.57 billion lei

The expansion of the commercial business came alongside strong financial growth in the first half of the year. Hidroelectrica Group’s revenues reached approximately 6.05 billion lei, 40% above the level recorded in H1 2025, while net profit increased by 62%, to 2.571 billion lei, according to the summary of H1 2026 results.

In the first six months of 2026, Hidroelectrica increased its balancing revenues by 14%, to 192 million lei, driven by a 27% increase in electricity volumes, which offset an 11% decline in the selling price compared with the same period of 2025. Revenues from ancillary services rose even more strongly, by 44%, from 101 million lei to 145 million lei.

The half-year figures therefore provide a clearer picture of the shift underway in Hidroelectrica’s commercial operations. Hydropower generation remains the foundation of the business, but supply to end customers is gaining weight, while electricity purchases from the market are becoming an increasingly visible part of the way the company covers its portfolio.

What remains to be seen is how the model performs under weaker hydrological conditions: how much electricity the company can cover from its own generation, how much it needs to purchase from the market and what impact that combination has on supply-business margins.